Sucro Completes Acquisition of Remaining 49% Ownership of Sweet Life Services Subsidiary

CORAL GABLES, Fla., Sept. 30, 2025 /CNW/ - Sucro Limited (TSXV: SUGR) (OTCQB: SUGRF) ("Sucro" or the "Company"), an integrated sugar refiner focused primarily on serving North American sugar markets, announced today that it has completed its previously announced share swap with Amerikoa Holdings, LLC and MB Central-Bond LLC (the "MB Companies"), companies controlled by Matthew Dyer, Sucro's Vice President of U.S. Sales. Under the transaction, a Sucro subsidiary acquired the 49% ownership interest in Sweet Life Services, LLC ("Sweet Life") not already owned in consideration for (i) the transfer to the MB Companies of a 19% ownership interest in Amerikoa Ingredients, LLC ("Amerikoa Ingredients") (the MB Companies own the other 81% interest), and (ii) the issuance of 155,550 subordinate voting shares of Sucro at a deemed price of C$13.35 per share. Sucro also issued an additional 15,215 subordinate voting shares at a deemed price of C$13.35 per share in consideration for the surrender by the MB Companies of a promissory note for cancellation in the principal amount of US$142,133 and accrued interest thereon of US$4,588. All Sucro shares issued pursuant to the transaction are subject to a 4-month holding period in Canada and such longer holder periods as may be required under securities laws of other applicable jurisdictions.

Sweet Life provides value-added sugar processing and warehousing services and serves as the distribution agent for the Sucro Group's sugar products in the United States. Amerikoa Ingredients is a US-based manufacturer and distributor of sweeteners, starches and other ingredient products for the US food and beverage industry.

Matthew Dyer, Sucro's Vice President of U.S. Sales, is the controlling shareholder of the MB Companies and therefore the transaction was considered to be a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (the "Rule") and TSX Venture Exchange Policy 5.9 (the "Policy"). The transaction was however, exempt from the formal valuation and minority approval requirements of the Rule and Policy as the fair value of both the subject matter of the transaction to be exchanged and the consideration therefor were less than 25% of Sucro's market capitalization at the relevant time. 

About Sucro

Sucro is a growth-oriented sugar company that operates throughout the Americas, with a primary focus on serving the North American sugar market. The Company operates a highly integrated and interconnected sugar supply business, utilizing the entire sugar supply chain to service its customers. Sucro's integrated supply chain includes sourcing raw and refined sugar from countries throughout Latin America, and refined sugar from its own refineries, and delivering to customers in North America and the Caribbean. Since its inception in 2014, Sucro has achieved growth by creating value for customers through continuous process innovation and supply chain re-engineering. Sucro has established a broad production, sales and sourcing network throughout North America with two cane sugar refineries and an additional value-added processing facility, and two cane sugar refineries under development in Hamilton, Ontario and University Park, Illinois (a suburb of Chicago). The Company has offices in Miami, Mexico City, Cali, Sao Paulo, and Port of Spain. For more information, visit sucro.us and follow us on LinkedIn.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Sucro Limited

Contacts: Don Hill, Chairman, Sucro Limited, T: [phone], E: [email protected]